China to inject FX reserves into policy banks

April 20, 2015 10:19 AM

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BEIJING, April 20 (Reuters) - China's central bank will inject some of its war chest of foreign exchange reserves into two state-owned policy banks to support the government's overseas development plans, financial news magazine Caixin reported.

The People's Bank of China will inject $32 billion into China Development Bank (CDB) and inject $30 billion into Export-Import Bank of China (EXIM), the magazine said in a report on its website, citing sources.

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